The taxation of crypto transactions fits with the Nigerian government’s broader goal of extracting more revenue from e-commerce transactions. cryptotax digitalassets ecommerce
According to the Nigerian finance minister, Zainab Ahmed, the country’s 2022 finance bill — which seeks to amend excise and duty statutes — has provisions allowing the government to collect tax on cryptocurrency and other digital currency transactions. The taxation of such transactions fits with the Nigerian government’s broader goal of extracting more revenue from e-commerce transactions, Ahmed reportedly said.
Meanwhile, the report states that after Ahmed ended her presentation, the state governors for Sokoto, Borno, Kaduna, Kebbi, and Ogun all commented on the bill. Their input is reportedly included in the draft bill which must be sent to the Federal Executive Council. After this step, it then goes to the Nigerian national assembly.Tags in this story
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